Definition of wealth tax in English:

wealth tax

noun

  • A tax levied on personal capital:

    ‘an increase in wealth tax’
    [count noun] ‘an immediate objective should be the introduction of a wealth tax’
    • ‘There is no capital gains tax, sales tax or VAT, inheritance tax or wealth tax on the Rock.’
    • ‘Labour leader Pat Rabbitte said yesterday he wanted to introduce a new wealth tax to fund vital areas such as health and transport services.’
    • ‘Australia is notable for not having a wealth tax of any sort.’
    • ‘There are three obvious ways that society can capture the unearned increment: by requiring lease payments from the land user, by a wealth tax, and by a tax on rental income.’
    • ‘Another scandal came out in 1983 when it was claimed that Le Pen hadn't paid the French wealth tax in three years and owed some two million francs.’
    • ‘Pre-election promises, such as the reintroduction of wealth tax and taxation of trading profits, have been filed away.’
    • ‘In countries where wealth tax applies, it is typically levied on the owner by reference to the value of assets held by the owner on the final day of the tax year.’
    • ‘He suggested that by means of a graduated wealth tax of up to 75 percent, an appropriate contribution to the economic consequences of the war should be extracted from the large-landed estates and big business interests.’
    • ‘Non-residents with taxable assets of more than €750,000 in France are liable for this tax; it is not covered in double taxation treaties, as a similar wealth tax does not exist in Ireland.’
    • ‘But the Greens have no plans to reintroduce a wealth tax, Boyle said.’
    • ‘I would introduce a wealth tax forcing the rich to pay taxes here, even if they live abroad.’
    • ‘A White Paper published in February 1974 proposed a capital gains tax of 35 per cent and an annual wealth tax on estates of over £40,000.’
    • ‘Also, as surveys have shown, people tend to believe that a fair tax rate is about 20%, but certainly less than 30%, and that wealth taxes (property and estate) are the most unfair.’
    • ‘Despite many capital-friendly reforms, Sweden maintains a wealth tax that whittles away at even small amounts of accumulated assets.’
    • ‘In Namibia, taxpayers have been very fortunate up to now in that no wealth taxes are operative, and to date donations, estates and capital profits attracted no tax.’
    • ‘Under the current method rates are increasingly becoming a wealth tax or a tax on assets held in the form of land.’
    • ‘A wealth tax and high insurance costs are keeping them from working at home.’
    • ‘But he thinks one 40-year-old idea still has merit; replacing inheritance tax, capital-gains tax and stamp duty with a single 1% wealth tax.’
    • ‘A small, say 10 percent, wealth tax would raise over £10 billion as a one-off contribution to the public sector.’
    • ‘Can you imagine the cry from city dwellers if a wealth tax of 20 per cent was applied to their properties?’

Pronunciation

wealth tax